Apr 26, 20246-MINUTE READAUTHOR: VICTORIA ARAJShare:*As of July 6, 2020, Rocket Mortgage® is no longer accepting USDA loan applications.One of your top priorities when buying a house is probably having enough cash on hand to make a down payment. You may wonder how much you need to save for a down payment or if buying a home without one is possible.We’ll look at the typical down payment requirement for different loan types and discuss the average amount that buyers pay upfront so you’ll have an idea of what to expect on your journey to homeownership.How Much Is The Average House Down Payment?The typical down payment on a house for a first-time buyer is about 8% of the home price, while repeat buyers typically put down 19% of the purchase price, according to data available from the National Association of REALTORS® in late 2023.Of course, your down payment on a house may not be the average down payment on a house. Down payment amounts vary drastically depending on the home price, your lo...
